Director of Finance

Sonesta Hotels•Houston, TX

10d•Onsite

About The Position

As the properties’ strategic financial business leader, the Director of Finance is responsible for creating and executing business plans that are aligned with the property’s and brand’s business strategy. Functions include planning, organizing, directing, and controlling the financial operations of the hotel while ensuring the security of hotel assets, maximizing the return on investment, and providing timely and accurate reporting and analysis of results and integrity of the management information systems in a decentralized accounting environment. The Director of Finance reports directly to the General Manager of the assigned home hotel. As a member of the hotels’ Executive Committee, the Area Director of Finance is a highly visible role with exposure to Senior Corporate leaders and Asset Managers of owning entities.

Requirements

Bachelor’s degree in Accounting, Finance, or equivalent and 10+ years in hotel accounting for a large complex hotel operation, or an equivalent combination of education and work-related experience.
Must speak English fluently.

Nice To Haves

CPA or MBA preferred.
For newly opening hotels, previous hotel pre-opening experience preferred.
Other languages preferred.

Responsibilities

Ensure compliance with Company policies, plus local and standard operating procedures.
Recruit and manage qualified hotel Accounting staff, communicate goals, recommend and/or initiate salary, disciplinary, or other staffing-related actions in accordance with company rules and policies, and applicable federal, state, and local laws.
Identify and promote high-potential staff members through a customized Personal Development Program, cross-training, and task force opportunities.
Lead in the completion, review, and presentation of monthly forecasts, annual operating and capital budgets, and business plans prepared by hotel management teams to provide stakeholders with reasonable and achievable guidelines of performance aligned with the Company’s and brand’s strategic direction.
Prepare accurate, timely, and complete monthly financial statements with detailed work papers and schedules in accordance with the Company’s policies and procedures, applicable hotel management agreements, Generally Accepted Accounting Principles (GAAP), and the Uniform System of Accounts for the Lodging Industry (USALI).
Develop and implement local accounting and financial control procedures and systems to ensure Sarbanes-Oxley (SOX) 404 key controls compliance, safeguard assets, improve operations, and profitability.
Develop strong business relationships with owners by understanding the priorities and strategic focus, attending and participating in meetings, addressing owner requests and initiatives, and demonstrating a comprehensive understanding of the terms and provisions of hotel management agreements.
Responsible for risk management to preserve hotel property and reduce potential liability claims.
Ensure the hotel complies with all federal, state, and local laws and fiscal regulations, including license and permit requirements.
Manage and control receivables, payables, credit, payroll, cash handling, and treasury functions with the staff of the assigned hotels’ Accounting departments.
Develop, implement, and monitor hotel-specific A/R Responsibility Matrix and credit and collection practices in compliance with Company-level policies and procedures.
Complete all formal performance appraisals and provide staff with coaching, timely constructive feedback, and utilize both counseling and progressive discipline when needed to recognize and enhance staff performance.
Provide analytical support to identify cost-saving and productivity opportunities for the properties’ managers.
Distribute Outlook and forecast information as an up-to-date management tool for operating departments; review and analyze variance versus actual results to measure and improve accuracy.
Provide leadership by clearly communicating financial concepts when rolling out initiatives and projects, and measure and report on actual versus anticipated results.
Monitor economic, social, and governmental trends and policies to keep stakeholders fully apprised of any impact on meeting the hotel’s financial objectives.
Collaborate with department managers to provide stakeholders with meaningful explanations for variances to budget.
Use financial and operational performance analysis, including benchmarking, to maximize each assigned hotel’s revenue, GOP flow-through, and bottom-line financial return.
Assist operations to improve the accuracy of work schedules and set labor standards to maximize productivity. Monitor and accurately measure actual labor usage versus labor standards to ensure timely reporting and decision-making.
Ensure adequate communication and compliance of hotel personnel with the Company Code of Ethics.
Comply with record retention as required for internal and external audits, coordinate audit visits, and respond to auditor requests. Ensure compliance with government regulations, federal, state, and local laws and contractual agreements, including CBA’s.
Monitor purchasing /ordering/delivery compliance and analyze reports from Company-mandated buying programs.
Ensure adequate insurance coverage and COI’s provided by third-party contractors.
Ensure timely and accurate reporting to insurance carriers of all incidents with potential liability or property claims.
Ensure timely and accurate sales, use, and occupancy tax returns, and compliance form filing preparation as required.
Serve as a member of assigned hotels’ Executive Committees.
Demonstrated ability to effectively interact with people of varying abilities and diverse cultural, ethnic, and socioeconomic backgrounds.
Promote teamwork and quality service to all stakeholders including guests, vendors, Accounting staff, regulatory agencies, and owners.
Perform additional administrative duties as needed or requested such as negotiating, monitoring, and tracking expiration and renewal dates of hotel contracts, space and tenant leases, etc.
May assist with other duties as required.